Rules say that MPs must declare any interest of more than £70,000 in a limited liability partnership. Lower value interests also need to be declared if they “might reasonably be thought by others to influence his or her actions or words” as a parliamentarian.
Cox has never said how much his stake in Phoenix is worth, and there is no suggestion he has done anything illegal.
Yesterday, the Daily Mail revealed that Cox took advantage of lockdown rules to vote in Parliament remotely while 4,000 miles away.
The newspaper said he was in the Caribbean to work for Withers, an international law firm.
In total, Cox has earned more than £1m from outside legal work over the past year, on top of his £82,000 salary as a backbench MP.
This includes almost £900,000 from Withers and more than £130,000 for other legal work.
The Daily Mail reported that, as part of his role at Withers, Cox had been advising the government of the British Virgin Islands in an inquiry into whether there is government corruption in the tax haven.
The inquiry was launched by the UK to establish whether there is evidence of “corruption, abuse of office or other serious dishonesty that has taken place in public office in recent years”.
A senior Whitehall source told the newspaper that Cox was “pocketing hundreds of thousands of pounds to help stop the exposure of corruption in a Caribbean paradise”.
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